India - Sweden Innovation Collaboration holds great potential

India has access to talent, and during the last few years the country are accelerating their pace to reach full potential. Digitalization is key to addressing the large challenges of our time; pandemic, societal challenges, climate and more. When I visited India in December 2019, as part of the Swedish high-level delegation, I was struck by the enormous potential of one of the world's largest markets, about which I had so little knowledge.

By 2030, India will be among the world's three largest economies. It is a vision that encompasses a society where all Indians must use digital tools and advanced technology to perform their duties or get the job done. India's growing population has access to jobs, better healthcare and more skills-based education. Technology and people coexist in an equally promoting eco-system.

Visions in all their glory, but they must be able to be put into practice to create value. And here I experience a sense of urgency. Today there is a shortage of most things in India. Doctors, nurses, teachers - the list goes on. At the other end there is abundance - people abound. The population is already one of the largest in the world, and the growth rate is high. Between 2020-2030, another 90 million are expected to enter working life. To compare with a marginal increase in the USA and a negative growth in China, which during the same period will decrease by 20 million working people, as the population curve swings. With a large and growing population, the average age is falling. In 2025, it is estimated to be 25 years old - to be compared with China and the USA as well as Japan, which will have an average age of 35 and 45 years respectively at the same time.

There is still enormous poverty. In Mumbai, the slums replace each other on the way to the city. Still, they offer an attractive option to many Indians who chose between staying in poverty in the countryside. Here lies India's main challenge and perhaps greatest potential. The lack of professionally trained people in combination with a growing young population needs to be bridged and transformed into a value-creating resource for the country. Hope is placed in technology, and the country aims to develop digital solutions that will contribute to increasing the availability of education and skills development in order to realize people's full potential. The competence investment should in turn increase the conditions for job creation.

When visiting India in 2019, I was struck by how much focus were put in to global sustainability challenges. I experienced a great awareness of climate change, not least the smog that lies like a blanket over the big cities and the tingling sensation in the throat, constantly reminding us we are running out of time. I especially remember President Modi talking about "the burning platform", as a metaphor for the world being on fire. I heard voices emphasizing that a collaboration between India and Sweden should not only benefit our two countries, but contribute in a global perspective. The collaboration should above drive green and digital transition, have a clear focus on the human factors. Ethics, inclusion and equality where high lightened in all discussions.

As we meet up in Stockholm for the India Sweden Innovation Day in 2022, many panelists including ministers, ambassadors, researchers, innovation facilitators and business representatives bare witness about the transformation and acceleration of change is taking place before our eyes. This includes?progression within science and technology, number of publications, number of innovations, number of patents and number of unicorns. The future looks promising.

Combining the small and innovative country of Sweden with the great market and transformative capacity of India could turn out to something really good. Sweden is an innovation leader, ranking high in global charts with our great education and research, great skills in technology and innovation combined with a high level of digital maturity among citizens, flat organizations and cross-disciplinary cooperation and more. India is on their way becoming a global innovation power house. Sweden could contribute with new solutions, business models and a strong commitment to transform to a sustainable society. India offers a huge market, invests highly in innovation infrastructure and have the capacity and urge to drive change. Innovative SMEs as well as R&D companies are enablers to execute on - and accelerate - this great opportunity.??What a great combination.?

/Lena Miranda, oktober 2022